The article constitutes an attempt at discussing the determinants of the development of third party liability insurance in historical perspective and on the basis of the observation of trends witnessed in this field nowadays. The identified factors are linked to the functioning of both the...

The article constitutes an attempt at discussing the determinants of the development of third party liability insurance in historical perspective and on the basis of the observation of trends witnessed in this field nowadays. The identified factors are linked to the functioning of both the...

Analyses of trends on the third party liability insurance market have indicated in the recent years that the quantity and value of claims have been growing on all markets . The examination of reasons therefor reveals multiple factors, including also a change of social attitudes - a greater...

In some European countries, the liberalization of the motor insurance market in the 1990s led to substantial increases in fares and claims throughout the whole decade. In this paper we argue that these phenomena are due to the impact of liberalization on companies' optimal incentives to fight...

Motor insurance constitutes the most popular type of insurance products purchased in Poland and consequently the largest part of non-life insurance sector. In this paper the selected results of the questionnaire survey concerning attitudes and choices of the motor insurance buyers on the Polish...

Increasing premiums, increasing claims and decreasing profits are three striking facts associated in some European countries to motor insurance liberalization of 1990's. In this paper, we argue that these phenomena may be considered not a consequence of collusion or other misapplications of...

In nahezu allen industrialisierten Ländern besteht der Anspruch, der gesamten Bevölkerung oder zumindest den Mitgliedern der Sozialversicherung alle medizinischen Leistungen zugänglich zu machen, die am Markt verfügbar sind. Dabei müssen die Länder nicht nur Kosten für medizinische...

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...

Why don't people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees' portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a quantitative model to assess the importance...

The endowment effect, status quo bias, and loss aversion are robust and well documented results from experimental psychology. They introduce a wedge between the prices at which one is willing to sell or buy a good. The objective of this paper is to address this wedge. We show that the presence...